Common Shares, no par value, authorized 75,000,000 shares; issued and outstanding shares; 51,183,318 issued, and 49,383,209 outstanding as of December 31, 2012 and 50,321,962 issued, and 49,035,788 outstanding at December 31, 2011, respectively

119,821,243

115,144,787

Contributed capital

93,972

93,972

Accumulated other comprehensive income

(59,570

)

(122,749

)

Accumulated deficit

(101,895,712

)

(80,470,009

)

Treasury Stock: 1,800,109 and 1,286,174 outstanding at December 31, 2012 and at December 31, 2011, respectively

WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC AND DILUTED

49,263,968

48,990,590

49,213,687

47,053,518

(1) Basic and diluted loss per common share is calculated using "Net loss attributable to BioTime, Inc."

(2) Comprehensive net loss includes foreign currency translation gain of $137,814 and $63,179 for the three months and year ended December 31, 2012, respectively and translation loss of $118,206 and loss of $1,020,087 for the same periods in the prior year, respectively arise entirely from the translation of foreign subsidiary financial information for consolidation purposes and therefore not used in the calculation of basic and diluted loss per common share.

Investors considering a purchase of BioTime, Inc. shares, but tentative about paying the going market price of $3.26/share, might benefit from considering selling puts among the alternative strategies at their disposal.